Biggest Wealth Fund Forced to Sell Stocks as Limit Breached
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Norway’s sovereign wealth fund, the world’s largest, gained 692 billion kroner ($115 billion) last year as stocks rallied, forcing it to pare its equity holdings for the first time ever to comply with risk mandates.
The Government Pension Fund Global returned 15.9 percent in 2013, after rising 13.4 percent the year before, the Oslo-based investor said today. The $840 billion fund’s stocks returned